Sell Crudeoil December 2021 @ 5400 SL 5500 TGT 5300-5240.MCX - Kedia Advisory
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CRUDEOIL
Crude oil trading range for the day is 5257-5473.
Crude oil prices gained as U.S. crude stocks, gasoline and distillate inventories fell last week
Crude inventories fell by 4.6 million barrels in the week to Dec. 10 to 428.3 million barrels
Crude stocks at the Cushing, Oklahoma, delivery hub rose by 1.3 million barrels in the last week, EIA said.
Omicron impact aside, oil supply set to top demand –IEA
SELL CRUDEOIL DEC 2021 @ 5400 SL 5500 TGT 5300-5240.MCX
NATURAL GAS
Natural gas trading range for the day is 279.2-308.6.
Natural gas climbed on forecasts for colder weather over the next two weeks than previously expected.
That price gain came despite near record U.S. output, a decline in U.S. liquefied natural gas (LNG) exports this week
U.S. natural gas storage is expected to end the November-March withdrawal season at 1.635 tcf on March 31
The number of rigs drilling for natural gas in the United States rose by 3 to 105
SELL NAT GAS DEC 2021 @ 290.00 SL 298.00 TGT 278.00-274.00.MCX
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